Adjustments

The Adj Credits tab includes items related to adjustments, credit for interest on tax paid and taxation of financial arrangements (TOFA).

A HELP debt includes any unpaid HECS-HELP, FEE-HELP, VET FEE-HELP, OS-HELP, SA-HELP and VET Student Loans debts.

A HELP debt is paid back through the tax system when the taxpayer earns above the compulsory repayment threshold. The compulsory repayment threshold is different each year. MYOB Tax uses the latest published rates for its calculations.

Items in this tab:

• Item A1 - Under 18 (including HECS-HELP/TSL/SSL & ABSTUDY SSL/SFSS loan debts)

• Item A2 - Part-year tax-free threshold

• Item A3 - Government super contributions

• Item A4 - Working holiday net income

• Item A5 - Amount on which family trust distribution tax has been paid

• Item C1 - Credit for interest on early payments